Personal Capital is a Silicon Valley digital wealth management company that launched in September, 2011 by former Intuit and PayPal CEO Bill Harris. His team’s goal is to give everyday people more control over their finances by using their technology for free while modernizing personal wealth management advice over the Internet.
I’m always intrigued by tech companies here in the Valley because I’ve got the entrepreneurial bug as well. It’s all about market disruption for the good of the consumer. Given a company needs to grow its user base and its profits in order to survive, I’m curious to know how a company with now over $120 million in venture funding, most recently led by USAA, BBVA, and Corsair in October, 2014, plan to continue their growth path.
With employees to pay, offices in Redwood City, San Francisco, and Denver to support, and technology to continuously build, revenue must flow in to counteract the cash burn. The great thing is that Personal Capital reached a terrific milestone of managing over $1 billion in assets at the end of 2014, and has now over $1.4 billion in assets as of 2Q 2015. Their growth rate looks to be accelerating as the become the leading digital wealth manager today.